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Oct 28, 2013 4:00pm EDT
to the downside today. back to you. >> bob, thanks much. joining us, katie stockton from btig, willa, steve rosen from hightower and michael jones. good to see, everybody. thanks for joining us. >> thank you. >> katie, let me kick this off with you. we have the fed meeting this week. we have no taper on the -- the tapering off the table, everybody says, until 2014. yet the s&p 500 at an all-time high even though earnings have been mixed. what's your take on this market? >> the market has been driven by momentum. momentum is a technical phenomenon. there's plenty of catalysts and reasons to expect a pullback. i'm actually in that camp. i think we'll seal a pullback in the next couple, three weeks or on. for me it's technically driven. it's because we saw a very extreme short term of condition registered. having reached overbought territory on their charts. that's a reading we've seen three times in total this year. each time followed by a pull back. i think we will pull back. the important thing to note is we're at new all-time highs for the s&p 500. it is a momentum-driven market and no reason to
Nov 4, 2013 4:00pm EST
.a.c. not necessarily founder steve cohen but as well as sentencing to follow several months later. it's after that s.a.c. needs to get serious about restructuring. they'll have to appoint an independent compliance monitor to oversee what they're calling the wind-down. what that means is they have to return third-party money to investors. a process that actually will be mostly completed at the end of the first quarter, from what i'm told, but could take ultimately one two two years, maria because they have liquid assets they need to sell. that process is currently being negotiate with the s.e.c. they have sfooif years to do it. probably won't take that long. >> so, nearly -- kate, thank you for the facts. we want to talk about this. nearly $2 billion to settle insider trading charges at s.a.c. we want to get the latest from sheila bair. u.s. attorney pete bharara said penalties are steep but fair. he made it clear this shut help serve as a deterrent. you agree? >> i absolutely agree. this is great. this isn't just the cost of doing business. a fine of this size hurts. it hurts wher
Search Results 0 to 1 of about 2